If you are new to betting in general, not just betting on cycling, this guide will you help you getting started. There are some terms that needs to be learned, different questions you probably have and some tips you should read and understand in order to make the best of your betting experience. Do not worry, it is not hard and will not take long to learn – and as long as you follow our number one rule of never depositing more money than you can afford to lose you are going to have a good time.
How to Bet on Cycling?
Given this is a website where the focus is one betting on cycling, we will use examples from the cycling betting markets so that it is easier for you guys to follow along. And to start out you need an account at an online sportsbook if you want to place cycling bets. Alternatives is off course to find a friend (or a foe) who you can make a bet with, but the options here will be limited and the hassle of collecting money is too much. Then it is better to find a place where they are happy to take your action and the bets are there for your taking.
You are off course free to choose where you want to create a betting account, and there are plenty of places to choose from online, but the one site we would recommend is www.Bet365.com. They have been in the business for a long time, have great customer service, bonuses, promotions, bet selections and more. If you are only going with one account (we would recommend you keep several to shop for odds), then Bet365 is the place to go.
Signing up to an online sportsbook
Note that the signup process is quite easy, just like when you are signing up to any other service online, like Facebook for example. You are presented with a form, fill that out with your private details and your account will be created.
Most of the items are self-explanatory, but some might be new to you. Odds display is the first one that sticks out. You need to decide how you want the odds displayed. US, decimal or fractional. I prefer decimal, but you can change this at a later date.
You also have username and password. This is your login info. The security number is used when making deposits, withdrawals and other security stuff, remember this. The same is for your mother’s maiden name. Just a security measure. The bonus code for your great signup bonus will be sent by email and can be typed in when making your first deposit.
Depositing funds at an online sportsbook
Now that you have created an account you need to deposit money in order to make wagers. Note that it is not possible to bet on credit here. You need to fund your account before you are allowed bet. Do not worry, your money are safe as long as you are careful with the kind of sites that you trust with your money. If you choose the ones that we recommend you will find that they are both reputable, trustworthy and have licenses to operate.
You can deposit funds with your preferred payment method. The easiest are off course those using credit or debit cards, like VISA, Mastercard and similar. Bet365 offers you the option to deposit using PayPal if you prefer that. You simply login to your account, navigate to the deposit button right beneath your account name and choose the option you prefer. After that you are presented with a screen where you type your payment details and how much you would like to deposit. Most options transfer the funds instantly.
We recommend using Neteller when transferring funds. It costs you nothing and the deposit and withdrawal process is swift so you can easily move funds between different sports books. This is the most common option for those that are using many different gambling sites online as you can put this in the same currency as all your betting sites. This makes it so that your transfers don’t eat up all your winnings in currency exchanges and transfer fees.
If you want some interactive help on depositing money, you can watch this video which goes through the whole process and explains each step:
Placing a bet
When you logged into your newly created account and funded it with money it is now time to place a bet. You can find the betting menu on the left. Here you have all the most popular sports listed, and even some weird ones as well, like betting on e-sports or television shows. You will find cycling in this menu and by clicking on it all the different races that they offer bets on will be showing.
In our example on the left, and as of writing this, there are only one event big enough warranting bets from the bookmaker. That is the Criterium du Dauphine, and also Tour de France where you can bet on the overall winners. Simply click on the format you would like to place a bet and look for the odds you like. We have shown the odds that comes up when you click on the Criterium du Dauphine 2014 – To Win Outright button. Here you find the odds of the racers that has the best chances of grabbing the yellow jersey after the finish of the final stage. As you can see, the payoff on Froome is quite bad as he is a huge favourite to repeat last years business.
When you have found a bet you like simply click the name of the rider and/or the odds attached to him. Now a menu will show up on the right side where you can decide how much you would like to wager on this bet. After you have typed in your preferred amount you simply need to confirm the bet and you have money riding on your rider! After the race is over the bookmaker will settle the bet and credit your account with the money you won. This is often done quite swiftly, but sometimes might take a little longer to confirm the correct placements.
Cycling Betting Tips
Now that we have given you a quick guide on how to start betting on cycling online we would also like to give some tips and advice that should give you a higher chance of winning money and having fun.
Tip #1 – Gamble within your means!
This is the most important tip. If you only learn one thing from us when it comes to betting, it should be this one: do NOT gamble money you cannot afford to lose! This means you will not deposit all your money online and tell yourself you will only bet with some of it. That never works out. Only deposit money you have specifically set out to wash away and consider it lost once it is there. If you do score a big win, do not count it as yours until you have cashed it out. It is easy to go on a downswing again.
Tip #2 – Do not chase losses!
One thing that is pretty typical when people are betting is that if they lose they get angry. They want to win it back immediately and most start to up the amount they bet. This is something you should refrain from doing, unless you like to lose your bankroll. Simply losing a bet or two, or even five or more is no reason to start going mad. This is bound to happen when you are playing a game of chance, and if you are like me where you enjoy betting underdogs there is even longer streaks happening.
Set yourself a limit of how much you bet on each bet, like 2-5% per bet and force yourself to stick to that. This is not the optimal way of betting, but it is not far off and it is a lot easier sticking to this if you “know” you are only going to bet $50 on every wager you place instead of trying to come up with a number yourself.
Tip #3 – Shop for the best odds!
This one is not all that intuitive and most don’t even think this matters. The odds matters! And that is that. Some thinks that you simply have to find out who is gonna win a race or who is easily gonna win over the other, but the fact of the matter is that there are so many variables involved and the betting sites knows how to value a bet properly. Most of the time the odds are set fair and there is no value to be had, but sometimes you might find an edge in a bet that has been given too good odds. Look for those and check other websites for even better odds to get more the times you actually win.
Tip #4 – Analyze the stage and racers!
Important handicapping tip here as most just look at the racers and match them up against each other. Yeah, sure, Froome is the better racer between him Cavendish over a whole Tour de France, but if you are looking to bet a head to head wager on these, check the stage first. Froome is a big favourite if there is a climbing stage, while on a flat stage Cavendish is likely to go all the way and try for the sprint finish. This was obviously an extreme example, but these things matter when you are comparing riders and the course. Come up with your own idea of who is gonna have an advantage and press that by betting on odds better than the win probability you assign to them.
Tip #5 – Have fun!
You should be aware that it is hard to win at this game and most that do bet on sports online do in fact lose money. There is a reason that the bookmakers offer bets on sporting events and that is because they are good at setting the odds and know they will win in the long run. If you are aware that it would take hard work to beat them you can either get down to business and try to get better or you can put your mind at ease that you are essentially gambling and will most likely lose.